Cement News tagged under: Indian sub-continent
Fauji Cement announces new director09 September 2020, Published under Cement NewsPakistan’s Fauji Cement Company Ltd has announced the appointment of Imran Moid as a director of the company, with effect from 7 September 2020. Mr Moid will take the place left by the departure of Rehan Laiq. The announcement follows news of the company’s results earlier this week. |
Fauji Cement posts FY2020 loss of PKR59m08 September 2020, Published under Cement NewsFauji Cement Co Ltd declared a loss of PKR59m (US$0.355m) for the year ended 30 June 2020. The company earned PKR2.824bn in the year ended 30 June 2019. “FCCL’s topline witnessed a decline of 27 per cent YoY to PKR3.75bn during 4QFY20 led by weaker retention prices as well as an 11 per cent dip in dispatches to 705,000t (local off-take dwindled by five per cent YoY to 700,000t),” reported Arif Habib Ltd in its analysis. In FY20 the topline suffered a decline of 17 per cent YoY as lower re... |
Cement dispatches in Pakistan improve in August but fall MoM07 September 2020, Published under Cement NewsPakistan’s cement industry recorded a growth of five per cent YoY in total dispatches from 3.351Mt to 3.52Mt in August 2019. However, a reverse trend of 27.2 per cent was noted, when compared with the figure 4.838Mt in July 2020. According to the breakdown released by All Pakistan Cement Manufacturers Association (APCMA), the local dispatches of cement in August 2020 increased by 4.8 per cent to 2.794Mt from 2.665Mt in August 2019 while exports registered an increase of 5.8 per cent, risin... |
New inland waterway receives first cement consignment07 September 2020, Published under Cement NewsThe first export consignment of cement from Bangladesh to Tripura, in India, through the inland waterways has been completed. A Bangladeshi barge carrying 50t of cement reached Sonamura in the northeastern Indian state of Tripura two days after setting sail from Daudkandi. The vessel, MV Premier, reached Sonamura after travelling 93km along the Meghna-Gomati river route. The Protocol for Inland Water Trade and Transit (PIWTT) was signed between India and Bangladesh in 1972 to provide inlan... |
Odisha clears two cement capacity expansion projects03 September 2020, Published under Cement NewsIndia’s Odisha state government has cleared two proposals for the expansion of cement grinding capacities. It gave the go-ahead for JSW Cement’s 1.2Mta expansion and Jajpur Cement’s Pvt Ltd 1Mta expansion project – both are located in Kalinganagar in Jajpur. JSW will invest INR4.899bn (US$66.7m) while Jajpur Cements has allocated INR4bn for the project. |
DG Khan award electrification contract to Schneider Electric01 September 2020, Published under Cement NewsPakistan-based DG Khan Cement Co Ltd, has chosen Schneider Electric to provide a comprehensive electrification solution for the 10,000tpd Balochistan plant. The facility will use a range of smart hard- and software and services that will fully power the site as well as optimise power usage to make the works more energy efficient and sustainable. Schneider's EcoStruxure equipment is internet-of-things enabled, allowing the operations team a full view of energy usage across the factory. Ar... |
FLSmidth appoints regional presidents for Australia and South America31 August 2020, Published under Cement NewsTamer Eid has been named by FLSmidth as the company's new president for the Australia region, effective 14 September 2020. Over his career, Mr Eid has held various senior executive and technical roles in the mining and oil and gas sectors. He has also led international service businesses that directly supported the production assets of the world’s leading mining and oil and gas companies. Along with his MBA and Mechanical Engineering degree, he brings with him extensive experience within th... |
Bangladesh producers seek advanced income tax refund of BDT7500m28 August 2020, Published under Cement NewsBangladeshi cement manufacturers have requested that the National Board of Revenue makes payment of BDT7500m (US$88,47m) as a refundable advanced income tax to help them recover some of their losses from the coronavirus pandemic. Previous attempts to seek similar demands in the national budget were turned down. "We need a fresh injection of capital to recover the losses incurred due to pandemic. We have fallen in capital shortage as well. So, the government should refund our adjustable fund... |
Lucky Cement profits fall to PKR3.34bn in FY2026 August 2020, Published under Cement NewsLucky Cement Ltd has announced dismal financial results for FY19-20 (July 2019-June 2020). The company earned an after-tax profit of PKR3.34bn (US$19.8m) as compared to PKR10.49bn, reported during the same period in the previous financial year. The company attributed the drop in the profitability for the last three years mainly to increased capacities coming online locally, which has put downward pressure on margins, while input costs have continued to increase. However, as the local deman... |
Hetauda Cement Industries sees losses mount up25 August 2020, Published under Cement NewsA combination of COVID-19, stalled construction activities and falling cement sales have seen Hetauda Cement Industries' losses grow fivefold YoY. The state-owned Nepalese company amounted losses totalling NPR50m (US$417,872) in the last fiscal year ended mid-July. According to the factory, it was able to sell only 1.45m bags of cement and clinker out of the 1.9m bags it produced in the last fiscal year. Sarju Aryal, head of the sales division, said the factory was left with about 400,000... |